Answer:
Bramble Enterprises' Income Statement is attached.
Explanation:
The inventory valuation losses determined by comparing the inventory at cost with inventory at the lower of cost and net realizable value.
In all cases, the net realizable values were lower than the costs. Therefore, the total costs were adjusted to show the loss in income.
Answer:
Journal Entry is as follows;
June 15
<em>DR</em> Accounts Payable <u>$1,000</u>
<em>CR</em> Cash <u>$400</u>
<em>CR</em> Notes Payable <u>$600</u>
Answer:
Direct Material per foot = $4
Explanation:
total variable = Direct material + labor + variable overheard
$78 = D.M+ ( 1.5 hrs * $12) + ( 1.5 hrs *$8)
$78 = D.M + $18 + $12
$78 = D.M + $30
D.M = $78 - $30
D.M = $48
D.M (per foot)= $48/12 = $4
Answer:
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